Markets

London stock market plunges 8.0pc

Published June 24, 2016 Updated June 24, 2016 08:40am

1 min

By Parvez Jabri

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LONDON: London stocks plunged around eight percent in opening deals Friday, with share prices of banks and housebuilders collapsing by about a third after Britain voted to leave the EU.

The British capital's FTSE 100 index shed 7.7 percent to 5,851.01 points shortly after the start of trading, with housebuilder Taylor Wimpey losing 32 percent, and Barclays and Royal Bank of Scotland each shedding roughly 28 percent.

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